Barclays has launched another new feature within its award winning mobile app, Barclays Pingit, giving large businesses such as insurance companies, retailers and utility companies the ability to pay individuals using their mobile phone numbers.
Businesses can now send payments using an individual’s mobile phone number instead of using their banking or card details.
Large businesses can use Barclays’ existing File Gateway channel to quickly, easily and securely send electronic payments directly into an individual’s Barclays Pingit account, which is open to both Barclays and non-Barclays customers.
Barclays is the first bank in the UK to offer this service, which creates an optimised customer experience by providing immediate payment, SMS notifications and in-app access to transactions.
As businesses look to reduce the physical and environmental costs associated with manual and paper-based processes, including cash handling, cheque production and issuing costs, ‘send a payment’ offers a real and viable alternative, without needing to seek sensitive account information from individuals.
Payments can reach any UK mobile phone number, regardless of whether they are already registered Barclays Pingit users, and non-registered users will be notified by text message with details of how to register to receive payment.
Mike Walters, Head of UK Corporate Payments at Barclays said: "Consumers today want quick and convenient ways to receive value. Mobile payment provides a fast and secure way to do this without the need for consumers to disclose their account number.
"For businesses it is becoming increasingly important to consider the use of mobile payments as part of their overall business strategy, reducing costly cheque use and improving the experience for their customers."
